Couldn't find a thread on this, so I'm making one. Today Guernsey's auctioned 58 posters from the collection of Alan J. Kanter. Some beautiful Houdini, Kellar, and Thurston sheets, but I thought the auction estimates were wildly high (if not downright wrong headed).

I really wasn't sure if this was just a bad day or if those estimates were way out of control. Seems to be a bit of both on the Houdini posters. A $40,000 reserve and an estimate of $65,000 - $75,000 on poster that sold just last year for $25,000? Nuts.

Kevin Connolly wrote:From what I saw online, the opening bid was $20K for the posters that didn't sell.

I was watching too, but I was a little confused by that. The auction opened with a suggested $40,000 bid on both, but in red below I saw a $20,000 bid price (at least on the Houdini for Pres sheet). I figured that was a bid put in but not accepted because it didn't meet the reserve?

Seemed like all the opening suggested bids got halved before things got started. The Amsterdam poster, which sold for $18,000, opened at $30,000.

There was confusion by many over the distinctions between LiveAuctioners & the actual auctioneer on site. Listed "starting" bids are posted by LiveAuctioners and they cannot lower them; the auctioneer on premises can.

There were no reserves, however, when it becomes obvious, as it did on Sunday, that the listed "starting" bid (i.e., one half of the lower estimate)was not being achieved, then the auctioneer on premises lowered it. Although confusing to online bidders, these various figures were on the screen, albeit in different boxes (positions). Savvy online bidders recognized this, and many posters were sold at below market value.

Two Houdini posters and the Baldwin did not, however, even achieve the lowered starting figures, and, so were passed by the auctioneer on site. One can make post auction offers however, and frequently Martinka and other online sites will attempt to broker a deal (i.e. reduce their commission, seek to persuade both seller & prospective purchaser to compromise, etc., etc.) It would not surprise me if at least one of the passed [ieces is not sold in this fashion.........happens all the time.

In discussions with a number of serious collectors who would have otherwise bid in this auction, the sentiment was fairly unnanimous....that they were scared off by the unrealistically high estimates. So, Richard, I do not think that the value of posters has plummeted. I think that this was an aberration and that the auction house totally mishandled Mr. Kanter's sale.

For those planning to attend the Washington Symposium on Magic History in April, we will have a live auction (with no internet component) that will most likely include some desirable magic posters.....as well as books, apparatus and ephemera